Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Greenback jumps but outlook's cautious
On Thursday, the US currency added versus a trade-weighted basket of currencies because traders consolidated positions with the low-yielding Swiss franc as well as Japanese yen backed amid deepening anxiety over tensions between America and North Korea.
The markets are seeking direction after Wednesday's steep moves and geopolitical worries will dominate in financial markets in the coming days, as some financial experts state.
The dollar index leapt 0.2% trading at 93.73.
On Wednesday, the Swiss franc along with Japanese yen had notched up huge revenues versus the greenback after Donald Trump warned North Korea that it would stumble on fire and fury if it dared to keep threatening the USA.
In return, North Korea announced its intention to launch missiles at Guam, an American Pacific island territory.
The common currency lost 0.3% hitting 1.1726 versus the greenback. It has dipped 1.5% since reaching a 2-1/2 year maximum of 1.1910 on August 2.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.